The selling process for the internationally operating manufacturer of solar mounting systems Schletter Group has been finalized. The so-called closing, i.e. the transfer of the operating business and the interests in the group of companies to the new owner, took place last week.
Investments in product development and Asian and American markets
“The closing marked the successful finalization of our financial restructuring,” CEO Tom Graf said. “Relieved from our old burdens and under the roof of a capital-strong partner we can now enter the markets with new momentum again, and especially also return to making new investments.” The new owner Golden Square Capital, which is financially backed by the Avenue Capital Group, provided a double-digit million euro amount for this purpose. The money is to be invested mainly in product development and the further development of the markets in Asia and America.
Similar transaction in the US
The purchase contracts were already signed in mid-June. The contracting parties then prepared the transfer of the company and implemented the contractual requirements for the transfer. The closing means that the German base of the group in particular leaves its phase of insolvency behind. Business operations of the German company “Schletter GmbH” were fully transferred to a new company, which will operate under the name “Schletter Solar GmbH” in the future. A similar transfer will soon take place in the US as well, where the Chapter 11 procedure is due for conclusion.
Further concentration on high-quality and robust assembly solutions
“We will seamlessly continue our successfully market and product strategy under the new owner,” Graf emphasized. The Schletter Group will continue to focus on the regions of Europe, Middle East, Africa (EMEA), North America and APAC. The company will continue to concentrate on high-quality and robust assembly solutions that are developed and produced in-house and adapted to the requirements of the local markets. (HCN)